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14-04-10

Qatar's LNG output to hike to $36b this year

(MENAFN) Qatar's exports of Liquefied Natural Gas (LNG) are expected to rise from $24 billion to $36 billion this year, while the current account surplus is expected to hike from $13 billion to $25 billion over the same period, Reuters reported. According to the D&B Business Optimism Index for Qatar, the country saw healthy economic growth last year and is expected to continue growing at a rapid pace in 2010 as well. The report said that Qatar's economy would be boosted by massive investments in the hydrocarbons sector and in infrastructure projects. The index, issued by Dun & Bradstreet South Asia Middle East (D&B) in association with Qatar Financial Centre (QFC) Authority, said that the non hydrocarbon industry composite index remains stable at the levels seen for the last four quarters. The report pointed out that the recovery in oil prices from the troughs witnessed in 2009 has helped the fiscal situation in oil exporting countries in the Middle East, which ultimately allowed for budget and current account surpluses. The report also said that the big rise in LNG output last year has helped offset the OPEC mandated decline in oil production, helping Qatar to register an 11 percent growth in gross domestic product (GDP).

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